Aperio Group LLC lifted its holdings in shares of Chevron Co. (NYSE:CVX) by 3.9% in the second quarter, Holdings Channel reports. The fund owned 1,011,084 shares of the oil and gas company’s stock after acquiring an additional 38,394 shares during the period. Chevron makes up 0.6% of Aperio Group LLC’s investment portfolio, making the stock its 21st largest position. Aperio Group LLC’s holdings in Chevron were worth $127,831,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the stock. SFE Investment Counsel increased its position in shares of Chevron by 7.8% during the second quarter. SFE Investment Counsel now owns 10,149 shares of the oil and gas company’s stock valued at $1,283,000 after acquiring an additional 731 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Chevron by 14.4% during the second quarter. Parallel Advisors LLC now owns 30,080 shares of the oil and gas company’s stock valued at $3,803,000 after acquiring an additional 3,775 shares during the last quarter. Sequent Asset Management LLC purchased a new stake in shares of Chevron during the second quarter valued at approximately $212,000. MainStreet Investment Advisors LLC increased its position in shares of Chevron by 3.4% during the second quarter. MainStreet Investment Advisors LLC now owns 76,845 shares of the oil and gas company’s stock valued at $9,716,000 after acquiring an additional 2,499 shares during the last quarter. Finally, Ardevora Asset Management LLP purchased a new stake in shares of Chevron during the second quarter valued at approximately $19,952,000. 64.82% of the stock is owned by institutional investors.
A number of research firms have issued reports on CVX. Goldman Sachs Group reissued a “buy” rating and issued a $141.00 target price on shares of Chevron in a research report on Tuesday, July 31st. Barclays raised their target price on Chevron from $145.00 to $148.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 11th. Zacks Investment Research raised Chevron from a “hold” rating to a “strong-buy” rating and set a $147.00 target price for the company in a research report on Wednesday, June 13th. Royal Bank of Canada reissued a “neutral” rating and issued a $145.00 target price on shares of Chevron in a research report on Monday, July 2nd. Finally, ValuEngine downgraded Chevron from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Nine investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $136.83.
In other news, insider James William Johnson sold 4,750 shares of the firm’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $116.00, for a total value of $551,000.00. Following the completion of the transaction, the insider now directly owns 4,750 shares of the company’s stock, valued at $551,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.46% of the stock is owned by company insiders.
Chevron stock opened at $125.33 on Monday. Chevron Co. has a one year low of $108.02 and a one year high of $133.88. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.08 and a quick ratio of 0.87. The firm has a market capitalization of $234.31 billion, a PE ratio of 33.87, a P/E/G ratio of 2.14 and a beta of 1.07.
Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, July 27th. The oil and gas company reported $1.78 EPS for the quarter, missing the Zacks’ consensus estimate of $2.09 by ($0.31). Chevron had a return on equity of 6.89% and a net margin of 7.87%. The company had revenue of $42.24 billion during the quarter, compared to the consensus estimate of $46.62 billion. During the same period in the previous year, the business earned $0.77 earnings per share. Chevron’s revenue was up 22.5% on a year-over-year basis. Analysts anticipate that Chevron Co. will post 8.17 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 10th. Stockholders of record on Friday, August 17th were issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date was Thursday, August 16th. Chevron’s payout ratio is currently 121.08%.
Chevron Company Profile
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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